The price of gold has increased by Rs 5,700 per tola (11.66 grams) on Thursday, setting an all-time high record in the domestic market of Nepal.
According to the Federation of Nepal Gold and Silver Dealers' Association, the price of hallmark gold has been determined at Rs 181,100 per tola on Thursday, April 10.
The precious yellow metal was traded at Rs 175,400 per tola on Wednesday.
According to stakeholders, the global trend has played a significant role in pushing domestic gold prices to unprecedented levels.
This latest surge follows a series of price increases throughout March. On March 30, the price surged to a record high of Rs 176,800 per tola prior to the latest record. On March 28, the price reached Rs 176,200 per tola, surpassing the previous record high set on March 19. Prior to that, gold had seen a notable climb from Rs 174,500 per tola on March 14 to Rs 175,200 on March 18.
These price hikes reflect broader global economic shifts, including the international political developments, which continue to influence the gold market.
Dharmasundar Bajracharya, First Vice President of the Federation of Nepal Gold and Silver Dealers' Association, attributed the rising gold prices to these external factors. "The price has increased due to the appreciation of the US dollar and international political developments. The local market has adjusted accordingly, reflecting the trends in the global market," Bajracharya explained in a recent interview with RSS.
Similarly, the price of silver has also increased in the domestic market. The price of silver has been fixed at Rs 1,900 per tola, up from Rs 1,835 on Wednesday.
